Initial Step To Becoming A Better Investor
It can be often said that step one to becoming a better investor is an easy one -- put off the Television.
CNBC -- and its competitors -- will simply make you dumber as well as poorer.
This comes as a surprise to many. After all, financial channels present a steady stream of well-credentialed professionals, men and women with extraordinary titles from prestigious companies. Most hold PhDs, years of experience, or manage large sums of money. They give the impression of being good. They look sharp. They have insightful ideas plus reams of arcane investment data tripping off their tongues.
How might following to them perhaps make you a poorer trader?
Because the unstated premise behind these shows -- which exist, of course, on the way to sell advertising -- is that people is required to be in a near-constant state of reaction:
"The market is hitting a new high today. What must traders do at present?"
"The Fed has left interest rates unchanged. What must investors do now?
"GNP was up an unexpectedly strong 3.8 percent most recent quarter. What should investors perform at this time?"
They bring on an analyst with a bullish view and another with a bearish one -- on stocks, bonds, currencies, commodities, rates of interest, or the economy -- allow them to square off for after sometime, followed by cut to commercials. After sometime later, they come back and perform it some more. This goes on day after day, week after week, every year.
Why do so many bright, talented, educated people spend countless hours staring blankly in the tube?
The short reply, of course, is we like it.
But can we, actually? Is watching TV more fulfilling than what you'd be doing if you were not?
If you receive specific concerning it, you will think somewhat ridiculous. As an example, perhaps you have told yourself something like:
Gee, I actually need to receive more exercise, but Dancing With all the Stars is on in 10 minutes.
I promised my daughter I'd teach her how to play chess, but these Seinfeld re-runs are really funny. It is long past time I stopped in to visit my aging grandmother, but I can not avoid the game!
I promised myself I'd learn to play the piano this year, but this week is a finals of American Idol.
I really do like to plant that garden. However I can't miss my soaps.
If we're challenged, obviously, we have lots of rationalizations.
Let a TV critic inform you that many of the programming makes no sense scrap and you will point to the learning things on The History Channel, Discovery, or National Geographic, regardless of whether that is only a part of what you watch.
If he replies that you're still being subjected to several hours of commercials each week, you advise him you tape the shows and fast-forward through them.
If he counters that taping only permits you to consume even more television, you possibly can for all time play your trump card: "Mind your business."
After all, you're an adult. It is your life to live. You may spend it any manner you desire.
But, between South Park and Grey's Anatomy, do you ever reflect on the way you're spending it?
No matter how fine the programming is -- and let's face it, some of it is great -- otherwise how rapidly you fast-forward from your commercials, the hours you use in front of the tube is time you haven't spent pursuing your goals, living out your goals, or simply interacting with another human being. If you're aged and companionless -- or housebound for another reason -- that is different. But that doesn't describe the majority of us.
Twenty-five years ago, Neil Postman warned of our consuming love affair with TV in Amusing Ourselves to Death. In the book -- a jeremiad about the danger of turning serious conversations about politics, business, religion, and science into entertainment packages -- he argues that Television is generating not the dystopia of George Orwell's 1984 but rather of Aldous Huxley's Brave New World:
"Spiritual devastation is more likely to come from an enemy having a smiling face than from one whose countenance exudes suspicion and hate. In Huxleyan prophecy, Big Brother does not watch us, by his option. We tend to watch him, by ours. There is no need for wardens or gates or Ministries of Truth. Whenever a population gets distracted by trivia, when cultural life is redefined as a perpetual round of entertainments, when serious public talk becomes a form of baby-talk, when, in brief, a people become an audience and their public business a vaudeville act, then a nation finds itself at risk."
He concludes that we'd all be improved off if television got worse, not better.
According to A.C. Nielsen, 99 percent of American households have TV set. Two-thirds have over 3. These sets are on an more or less of six hours and 47 minutes every day.
49 percentage of Americans polled say they spend a lot of time in front of the Television. It isn't difficult to find out why. The common viewer watches over four hours of TV each day. That's two months of non-stop TV-watching per year. For a 65-year life, one could have spent 9 years glued to the tube.
You already understand how little you will gain by watching much TV. But have you as well considered what it is costing you?
by: Mark Nicholas
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